Gorilla Technology Refutes Fraud Allegations, Underscores Confidence in Business Strategy
London, UK – March 24, 2025 – Gorilla Technology Group Inc. (NASDAQ: GRRR), a global provider of AI-driven security and intelligence solutions, has issued a robust response to recent allegations of fraud and market manipulation. The company categorically denies these claims, attributing them to individuals currently facing charges from both the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ). Chairman and CEO Jay Chandan expressed confidence in the company’s legal position, emphasizing the questionable credibility of the accusers and stating that Gorilla Technology will focus on delivering strong business results as the ultimate testament to its integrity.
The company also addressed the recent decline in its share price, linking it to short-selling activity. Gorilla’s Board of Directors maintains that the current share price significantly undervalues the company. To demonstrate their conviction in the company’s intrinsic worth, the Board intends to utilize remaining funds from its previously announced share buyback program if the stock price continues to languish. Furthermore, a significant portion of the Board and the entire executive management team have expressed their intent to purchase company shares following the release of its 2024 earnings statement, further underscoring their belief in Gorilla Technology’s long-term prospects.
Gorilla Technology: Leading the Charge in AI-Powered Solutions for a Smarter, Safer Future
Gorilla Technology, headquartered in London, is a prominent player in the global landscape of security intelligence, network intelligence, business intelligence, and IoT technology. The company offers a comprehensive suite of solutions tailored to diverse verticals, including Smart City initiatives, network management, video surveillance, security convergence, and IoT applications. Leveraging cutting-edge AI and deep learning technologies, Gorilla empowers clients across sectors such as Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare, and Education.
At the heart of Gorilla’s mission is the transformation of urban operations, enhancing security protocols, and bolstering resilience against emerging threats. The company’s innovative product portfolio encompasses intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics, and advanced cybersecurity technologies. By seamlessly integrating these AI-driven solutions, Gorilla empowers Smart Cities to elevate efficiency, safety, and cybersecurity measures, ultimately contributing to a higher quality of life for citizens.
Gorilla’s Innovative Technologies: Empowering Smart Cities and Beyond
Gorilla Technology’s expertise lies in harnessing the power of Artificial Intelligence to address pressing challenges across various sectors. Their solutions are designed to provide actionable insights, improve operational efficiency, and enhance safety and security. Here’s a closer look at some of their key offerings:
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Intelligent Video Surveillance: Gorilla’s AI-powered video surveillance systems go beyond traditional monitoring, providing real-time analysis and alerts based on predefined parameters. This enables proactive threat detection and faster response times, significantly enhancing security measures.
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Facial Recognition: This technology enables accurate and rapid identification of individuals, facilitating applications such as access control, security monitoring, and law enforcement investigations.
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License Plate Recognition: Automated license plate recognition plays a crucial role in traffic management, parking enforcement, and security applications, enabling efficient tracking and identification of vehicles.
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Edge Computing: By processing data closer to the source, edge computing reduces latency and bandwidth requirements, enabling faster and more efficient data analysis for real-time insights.
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Post-Event Analytics: Gorilla’s post-event analytics tools allow for in-depth analysis of recorded video footage, assisting in investigations and providing valuable insights for improving security protocols.
- Advanced Cybersecurity Technologies: In an increasingly interconnected world, robust cybersecurity is paramount. Gorilla Technology offers advanced solutions to protect against cyber threats and ensure data integrity.
Forward-Looking Statements and Investor Information
This press release contains forward-looking statements that reflect Gorilla Technology’s current expectations and projections regarding future events. These statements, often identified by terms such as "expect," "estimate," "project," "intend," "plan," "believe," and similar expressions, are subject to inherent risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors such as market conditions, regulatory developments, and competitive pressures can influence the company’s performance and may impact the realization of these forward-looking statements. Investors are cautioned not to place undue reliance on these statements, which speak only as of the date of their issuance. Gorilla Technology undertakes no obligation to update these forward-looking statements unless required by law or regulation.
Gorilla Technology: Charting a Course for Continued Growth and Innovation
Gorilla Technology remains committed to its vision of leveraging AI-driven solutions to address critical challenges across various industries. The company’s robust product portfolio, coupled with its focus on innovation and strategic partnerships, positions it for continued growth and leadership in the rapidly evolving landscape of security and intelligence technologies. As cities become increasingly complex and interconnected, the demand for intelligent solutions that enhance safety, efficiency, and resilience continues to grow, creating a significant opportunity for Gorilla Technology to expand its market reach and solidify its position as a leading provider of AI-powered solutions.
Contact Information for Media and Investors
For further information about Gorilla Technology Group Inc. and its innovative solutions, please visit the company’s website at Gorilla-Technology.com or contact:
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
[email protected]
Disclaimer: This news article is a summary of the original press release and includes additional context for informational purposes. It does not constitute financial advice. Investors are encouraged to conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions.